The Department of Transportation (DOT) reported:
• Travel on all roads and streets changed by -0.9% (-2.1 billion vehicle miles) for November 2011 as compared with November 2010.
• Travel for the month is estimated to be 240.9 billion vehicle miles.
• Cumulative Travel for 2011 changed by -1.4% (-38.3 billion vehicle miles).
The following graph shows the rolling 12 month total vehicle miles driven.
...In the early '80s, miles driven (rolling 12 months) stayed below the previous peak for 39 months.
Currently miles driven has been below the previous peak for 48 months - and still counting! And not just moving sideways ... the rolling 12 month total is still declining.
...This is the ninth straight month with a year-over-year decline in miles driven...
But if only the obstinate Republicans would give President Obama more money and more power, he'll make everything better. If he can just tax the rich more, tax oil companies more, maybe add a VAT tax, maybe convert all private retirement funds into annuities backed by government bonds, and find some other creative ways to raise cash for the government to redistribute, all will be well.
All will be well.
So, it looks like things are going along swimmingly in the Era of Downgrade
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